Mexico’s peso and Canada’s dollar fell sharply in the early hours of Tuesday morning on the back of a social media post from president-elect Donald Trump outlining plans to impose 25% tariffs on all products imported from the two countries with which the U.S. shares a land border.

U.S. stocks rose to records Tuesday after Donald Trump’s latest talk about tariffs created only some ripples on Wall Street, even if they could roil the global economy were they to take effect. The S&P 500 climbed 0.

Stocks are shrugging off a new Trump tariff threat as the President-elect vows sweeping levies on the biggest U.S. trading partners.

The pick of Scott Bessent as Treasury secretary has changed the market's mood, says Kit Juckes, chief currency strategist at Societe Generale. Stock futures are up, and both bond yields and the dollar are down.

The 10-year Treasury yield rose three basis points to 4.298%. The US dollar jumped against the Canadian dollar and Mexican peso. Meanwhile, international stocks slid on fears of a widening trade war, with European, Japanese, and South Korean indexes falling after Trump's posts.

The benchmark S&P 500 and the Nasdaq ended higher on Tuesday, as technology stocks rebounded, while investors digested President-elect Donald Trump's tariff pledges on top trade partners and the latest minutes from the Federal Reserve.